The buying interest for cryptocurrencies surged ahead of the Coinbase listing. This caused top cryptocurrencies including Dogecoin (DOGE) to rally. Dogecoin has been in flying mode for the last 48 hours, resting near a fresh all-time high of $0.146. Dogecoin created two straight days of immense bullish action after the bounce off the $0.0685 support level. Now ranking 10th largest, Dogecoin’s market valuation stands at $16.23 billion with $19.53 billion in trade volume over the past 24 hours. At the time of writing, DOGE was up by 37.13% in the last 24 hours and 111.69% weekly while trading presently at $0.1219. Dogecoin’s breathtaking rally comes after block.io indicated on Apr. 9 that the number of Dogecoin addresses holding DOGE crossed 3.5 million for the first time. Dogecoin is also receiving fresh endorsements from Mark Cuban and Guy Fieri. Billionaire entrepreneur Mark Cuban announced selling more than 122k Doge in merchandise while disclosing that NBA’s Mavericks’ sales have increased by 550% over the past month.
*Dogecoin has been in a flying mode, resting near a fresh all-time high of $0.146
*DOGE was up by 37.13% in the last 24 hours and 111.69% weekly while trading presently at $0.1219
*The number of Dogecoin addresses holding DOGE crossed 3.5 million for the first time
Key Levels
Resistance levels: $0.18, $0.17, $0.16
Support Levels: $0.094, $0.081, $0.068
DOGE/USD Daily ChartDOGE resumed consolidation in mid-February after a massive downswing from Feb. 8 highs of $0.09. DOGE made a strong bullish breakout on April 13 above the $0.072 resistance that kept the bulls in check since mid-February, sending the RSI into overbought levels at 82. This increases the odds for a downside correction. If the DOGE price corrects lower, support awaits at the previous barrier of $0.094. a deeper pullback would meet support at $0.081 ahead of $0.072.
Further declines beneath the $0.072 would expose support at $0.068 ahead of the MA 50 at $0.058. The ascending trendline may put a lid to further losses. On the flip side, if DOGE bulls stay in control, further advances could stall around the record of $0.146. A break higher would bring DOGE price into uncharted waters, with the next major resistance barrier likely to be the $0.15 psychological level. Similarly, further upside moves could meet barriers at $0.18 and $0.20.
DOGE/USD 4-Hour ChartDogecoin had a breathtaking rally from Apr. 13 lows at $0.068 to reach record highs of $0.146. DOGE price is returning lower, reaching the $0.1051 level due to the resistance at the all-time high. As of press time, the DOGE/USD price has rebounded slightly to $0.1164. If the market weakens below the $0.1051 support, the next support levels at $0.094 and $0.081 could come into focus. Moving lower, the MA 50 currently at $0.073 could attract traders’ attention before touching the MA 200 support at $0.060.
Only a break below the MA 50 at the $0.073 level may invalidate the bullish outlook. In this scenario, DOGE may trade sideways or dip lower. Alternatively, if the price reverses north, bulls could revisit the all-time high at $0.1466 before entering into uncharted territory. Jumping above the latest record high, DOGE could rally to $0.16 and $0.20 to resume the next leg of the uptrend.
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